2.10% Two Year Discount Further Advance
Representing a 2.10% discount off our Residential Standard Variable Rate for the first two years, chancing to our Residential Standard Variable Rate which is currently 4.99%
(The overall cost for comparison)
Available for: Further Advances
Min/Max Adv: £5,000/£1,000,000
Max Loan To Value: 80%
Arrangement Fee: N/A
Valuation Fee: A revaluation fee of £150 may be applicable
Early Repayment Charge (ERC): 1% in the first two years
Overpayments: 10% of the advance amount can be repaid per annum for two years without incurring a charge. A 1% charge is due on any amount repaid that exceeds 10% per annum
Restrictions: This mortgage must be repaid on a capital & interest basis.
Other Features: N/A
A mortgage of £20,000 payable over 17 years initially on our discounted rate at 2.89% below the Society's Residential Standard Variable Rate of 4.99% for 2 years and then reverting to our current Residential Standard Variable Rate of 4.99% (variable) for the remaining 15 years, would require 24 monthly payments of £124.20 and 180 monthly payments of £143.23 plus one initial interest payment of £49.09.
The total amount payable would be £29,066.29 made up of the loan amount plus interest (£8,811.29) and Revaluation Fee (£150), CHAPS fee (£25) and Application Fee (£80).
The overall cost for comparison is 4.8% APRC representative.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE